Do you notice rent going up in your area? I think foreclosures have a lot to do with it.

[raccoon]

It possibly raises the demand for rental properties.

(Yeah, I know everything is going up except our pay.)

[Juneboarder]

1. Agreed

At least for Southern California. Rents are ridiculous here...

My uncle is renting out a home of his in Vegas presently, and only asking $1100/month. This leads me to believe that rents in Vegas haven't been doing much in the lines of increasing, but maybe that is due to the glutton of homes in the market there and the fact that there are luxury apartments on every corner...

[Liberal_in_LA]

5. wow. $1100 for one bedroom in LA

and not a fancy one bedroom apt.

[Juneboarder]

8. Oh tell me about it!

I'm in San Diego and rents here are pretty comparable to LA. As well I used to live up in the Valley (Northridge area). My sister rents a STUDIO apartment (about 5 buildings from the 5) in Carlsbad and feels she got a deal at $900/month.

$900/month!!!!

[Liberal_in_LA]

9. yup.

[NutmegYankee]

11. That is a deal. I saw Studios going for $1400/mo in DC back in 2007.

They go for $1800-$2100 now. STUDIOS!

[rox63]

2. People have to live somewhere

If you can't get a mortgage, you have to rent. Demand for rentals has gone up, so the vacancy rates are down and the prices are rising.

[zipplewrath]

3. It's documented around here

Rents haven't "gone up" so much as they haven't gone down at all, despite the market being flooded with available rentals. The people having the hardest time are those trying to rent large, expensive homes. College students are renting them and dividing it up amongst 8-10 people. Pisses the neighbors off something awful.

[YellowRubberDuckie]

4. If you're a renter, be very careful.

There are a lot of landlords taking money, but not paying their mortgages on the properties, even after they go into Foreclosure and know that it is imminent. I even had people get SCREWED because they signed a lease AFTER the date of the foreclosure sale. They paid a sizable deposit because they had pets. We honored the lease because we aren't asshats, and they eventually bought it, but still, most banks won't because they had no legal requirement to do so.
Just be careful because there are very shady people out there screwing every one they can. No one is safe.

[Lint Head]

6. It has and financial advisers are telling people to put their money into apartments.

[RebelOne]

7. I own a mobile home and live in a mobile home park.

I have been here since 1994. Every year, the lot rent goes up $10 along with the water bill that is included in the rental payment. As of March 1st, I will be paying $376 a month (which includes water and garbage pickup). I am retired now and living on a fixed income, so it is a hell of a lot cheaper than renting a house or apartment.

[KG]

10. nope.

anecdotally, my landlord lowered my rent to keep me from moving out.

[raccoon]

12. Did he know you were thinking of moving?

edited for clarity.

[ananda]

13. Yes.

nt

[JesterCS]

14. in most "rented" places in ohio now you have to

make 3x the monthly rent just to be considered for an apartment =(